Saturday Oct 13, 201201:09 PM GMT
Obama Executive Order allows seizure of Americans’ bank accounts
Sat Oct 13, 2012 1:10PM
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The latest executive order (EO) emanating from the White House October 9 now claims the power to freeze all bank accounts and stop any related financial transactions that a “sanctioned person” may own or try to perform - all in the name of “Iran Sanctions.”

 

Titled an “Executive Order from the President regarding Authorizing the Implementation of Certain Sanctions…” the order says that if an individual is declared by the president, the secretary of state, or the secretary of the treasury to be a “sanctioned person,” he (or she) will be unable to obtain access to his accounts, will be unable to process any loans (or make them), or move them to any other financial institution inside or outside the United States. In other words, his financial resources will have successfully been completely frozen.

 

The EO expands its authority by making him unable to use any third party such as “a partnership, association, trust, joint venture, corporation, subgroup or other organization” that might wish to help him or allow him to obtain access to his funds.

 

And if the individual so “sanctioned” decides that the ruling is unfair, he isn't allowed to sue. In two words, the individual has successfully been robbed blind. The New American

HIGHLIGHTS

Congressman Ron Paul (R-Texas) called EOs patently unconstitutional. When asked about them by Fox News’ Megan Kelly, Paul said:

 

“The Constitution says that only Congress passes laws. The executive branch is not allowed to pass laws, nor should the judicial system pass laws. So it is clearly unconstitutional to issue these executive orders,” Paul said.

 

“They’ve been done for a long time, both parties have done it, but the Congress is careless. They allow and encourage and do these deals … to get the president to circumvent the Congress. If something’s unpopular and he can’t get it passed, well, let’s just sign an executive order. So I think that is blatantly wrong. I think this defies everything the founders intended. I think it’s a shame that Congress does it, and I think it’s a shame that the American people put up with it,” he added.

 

The most outrageous executive order of all time was that issued by President Roosevelt that allowed the enforced internment of 120,000 Japanese-Americans. Prison Planet

FACTS & FIGURES

The United States has long barred U.S. firms from doing business with Iran, but last December adopted measures that forced international buyers of Iranian oil to cut their purchases. Economic Times

 

In August, a second package of sanctions added further restrictions for international banks, insurance companies and oil traders.

 

The U.S., Israel and their allies say Tehran may intend to use its nuclear capability to produce nuclear weapons, a claim Iran rejects. Tehran insists its program is completely peaceful.

AGB/HJ

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